Florida investment 'buoyed by strong pound'

Article Date : Wednesday, August 22, 2007

The strength of the pound against the US dollar means that the property market in Florida still represents a good investment opportunity, according to one expert.

Paul McMullen, sales manager at Escapes2, argued that property in Florida is a strong long-term investment, rather than a "get rich quick" market.

Advising people to buy new-build properties, Mr McMullen said that older properties may not have the same "rentability".

"It is important to make sure you go out there and have a look at a few resorts, because if you want to rent it out then location is everything," he remarked.

Mark Bodega, marketing director of HiFX, recently said that weakness in the US dollar provided an opportunity for property buyers to take advantage of the strong pound when investing in the US.

However, potential buyers should look to fix their exchange rate through a forward contract to ensure that they are not affected by currency fluctuations, he advised.

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